• 3 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 5 minutes Could Tesla Buy GM?
  • 11 minutes Global Economy-Bad Days Are coming
  • 17 minutes Venezuela continues to sink in misery
  • 4 hours OPEC Cuts Deep to Save Cartel
  • 4 hours What will the future hold for nations dependent on high oil prices.
  • 1 day End of EV Subsidies?
  • 11 hours Congrats: 4 journalists and a newspaper are Time’s Person of the Year
  • 5 hours Price Decline in Chinese Solar Panels
  • 8 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 11 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 21 hours Permian Suicide
  • 1 day GOODBYE FOREIGN OIL DEPENDENCE!!
  • 1 day Asian stocks down
  • 1 day Maersk's COO statment.
  • 1 day IT IS FINISHED. OPEC Victorious
The Conference That Overshadowed OPEC

The Conference That Overshadowed OPEC

OPEC has been grabbing all…

Proposed Shale Gas Development Stirs Passions in Poland

Energy-poor Poland is about to embark upon using hydraulic fracturing to develop the country’s natural gas reserves. The practice is controversial in many countries, including the U.S., because of its potential impact on the environment, particularly groundwater. Many municipalities and counties in the U.S. have adopted stringent regulations as a result.
 
Poland’s Petrolinvest has formed a joint venture, Silurian-Hallwood, with the U.S.-based Hallwood Energy to begin shale gas extraction after funding is raised, Rzeczpospolita newspaper reported.
 
Silurian-Hallwood is currently attempting to raise $90-100 million, of which, $20-25 million will come from private investment with the remaining $70-75 million from an initial public offering (IPO) prior to the company being listed on London's Alternative Investment Market (AIM) later this year.
 
Author Jacek Skorupski observed, "Shale gas is a matter of a political nature. If we treat it like any other investment, we will be faced with mounting difficulties."
 
Deputy Environment Minister Jacek Jezierski ambiguously noted, "We will be able to say whether amendments to provisions regulating shale gas extraction are needed once we perform a professional assessment of its environmental impact, not an emotional one. Poland intends to control this process, not to ban it."
 
Marek Kryda of the Institute of Civil Affairs emphasized, "It is necessary to look after issues related to property expropriation and lease. We can already see irregularities at the stage of test drilling."

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
-->